EB-5IC Statement on S. 2122

October 3, 2015

Statement of the EB-5 Investment Coalition on S.2122, the Invest in our Communities Act

WASHINGTON, DC – On October 1, 2015, Senator Rand Paul of Kentucky introduced the Invest in our Communities Act to improve and make permanent the EB-5 Regional Center Program. The EB-5 Investment Coalition (EB-5IC) is a broad-based organization of businesses and trade associations with the shared mission to support and promote the continuation and improvement of the EB-5 Immigrant Investor Program. The Coalition issued the following statement:

“We are very encouraged to see Senator Paul’s legislation introduced in the Senate. We welcome Senator Paul’s contribution to the continuing effort in Congress to achieve a long-term extension of the EB-5 Regional Center Program with reforms that both enhance program integrity and preserve the job-creating potential of the program.

“We are pleased to see that Senator Paul’s legislation contains many of the principles for which the Coalition has been advocating, including strong integrity measures, a sensible preapproval process for EB-5 business documents, controls on agency processing times, and provisions to expand the program’s job-creating capacity by increasing the number of EB-5 visas available in a fiscal year. Additionally, Senator Paul’s legislation includes a process of administrative review for regional center entrepreneurs who may face suspension or termination as a result of new agency oversight authorities provided in the legislation.

“The Coalition looks forward to working with Senator Paul and other members of Congress who recognize the value and potential of the EB-5 Regional Center Program. The Coalition will continue, as it has been doing consistently over many months, to provide lawmakers with new ideas and reasonable compromises to address important policy goals. The Coalition looks forward to achieving consensus on effective legislation that industry stakeholders can broadly support.”

About the EB-5 Investment Coalition:

The EB-5 Investment Coalition (EB-5IC) is a broad-based organization of businesses, industry leaders, trade associations and elected officials mobilizing around the shared mission of putting Americans to work by reauthorizing and strengthening the critical EB-5 Regional Center Program. For more information, please visit: www.eb5coalition.org.